SANDNES, Norway 25 October 2023 - Horisont Energi (EURONEXT: HRGI) has signed a
Letter of Intent (LOI) with Barents NaturGass AS for a long-term purchase
agreement of up to 100,000 tonnes annually of clean ammonia from Horisont
Energi's and Fertiberia's Barents Blue plant.

Under the LOI the two companies will assess the market opportunities and review
technologies required to develop clean ammonia as an energy source for the
industry in Northern Norway. The companies will also explore the possibilities
of receiving public funding support from Enova, Innovation Norway, or other
relevant funding providers.

"Although the main market for clean ammonia will be on the European continent,
we also intend to serve local demand for clean ammonia with a filling station at
the planned Barents Blue plant. This is the first agreement for local delivery
of clean ammonia in Northern Norway, enabling the build-up of a clean energy
industry and emission-free last-mile transport in the region," says CEO Bjørgulf
Haukelidsæter Eidesen in Horisont Energi.  

Barents NaturGass is the leading reseller and distributor of LNG and Liquefied
Biogas in the Barents region, with an interest to expand its product portfolio
into clean ammonia and CO2 capture once this becomes available in the region.

The Barents Blue plant is currently being planned for an annual production level
of 1 million tons, making it Europe's first large-scale clean ammonia plant. The
offtake agreement follows the signing of a joint development agreement between
Horisont Energi and Fertiberia earlier this year. In June, Horisont Energi
secured sufficient power supply for the first stage of the project. 

The Barents Blue project has received a conditional grant of NOK 482 million
from Enova, as part of the IPCEI Hydrogen program.

For more Information: 
Bjørgulf Haukelidsæter Eidesen, CEO 
+47 990 36 892 
bhe@horisontenergi.com 

Siri Melberg, Head of branding & communication 
+47 470 35 718 
sm@horisontenergi.com 

About Horisont Energi: 
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that
provides clean energy and carbon transport and storage services. The company
will transform gas, water and renewable energy into cost-leading clean ammonia
and hydrogen and offer CO2 transportation and storage services using proprietary
technology, paving the way for a low carbon economy. The company was founded in
2019 and is headquartered in Sandnes, Norway. www.horisontenergi.no 

You can follow us on: 
https://twitter.com/horisontenergi 
https://www.linkedin.com/company/horisontenergi/

About Barents NaturGass AS
Barents NaturGass is a Scandinavian gas company that sell and distribute natural
gas and LNG. Common uses are industrial processes, ships and vessels, cars,
trucks and buses, central heating systems for commercial use or residential
areas. You can read more about the different uses by browsing our site. Founded
in 2005 we built northern Norway's first LNG-terminal in 2006. Barents NaturGass
normally builds owns and run all our installations and delivery chain until the
gas is consumed by the customer. This makes the change easy for companies that
look for a more competitive and environmentally friendly energy solutions.